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Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listing

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Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listing
Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listingReading Time: 2 minutes

 

Leading esports betting company, Esports Limited confirmed its oversubscribed financing closed at $5.0M CAD ahead of an anticipated TSX Venture Exchange (the “TSXV”) listing.

The Company, which provides real-money wagering on competitive video game tournaments to customers in more than 100 countries, anticipates receiving TSXV approval for listing by the fall.

The financing, via a brokered and non-brokered sale of subscription receipts, was closed in connection with a proposed go-public business combination with Elephant Hill Capital Inc.(TSXV:EH.P) (“Elephant Hill”) as capital pool company (CPC) listed on the TSXV, was upsized from the base financing of $2M CAD, despite being conducted during the COVID-enforced lockdown. The subscription receipts sold in the financing will be automatically exchanged for securities in Elephant Hill upon the closing of the proposed go-public business combination with Elephant Hill, which transaction will be the “qualifying transaction” for Elephant Hill pursuant to the policies of the TSXV. Upon the closing of the proposed go-public business combination with Elephant Hill, Elephant Hill will remain listed and all of the security holders of the Company (including those holding subscription receipts sold in the financing) will be exchanged for securities in Elephant Hill, which will retain its listing on the TSXV and will result in the Company being a wholly-owned subsidiary of Elephant Hill.

Among the investors is MLS goalkeeper Luis Robles, who plays for Inter Miami, the franchise co-owned by former Manchester United and Real Madrid star David Beckham.

The brokered portion of the subscription receipt financing was co-led by Gravitas Securities Inc. and Beacon Securities Ltd., along with a syndicate group consisting of Canaccord Genuity Corp., Echelon Wealth Partners Inc., Haywood Securities Inc. and Eight Capital Corp.

The esports betting industry has been among those apparently resilient to the economic damage inflicted by the Coronavirus pandemic, with the Company reporting a 500% increase in betting volume and a 10-fold increase in the number of deposits compared with November 2019.

The Company is now recruiting for five key positions, including a senior marketing role, as it aims to maintain the momentum from a very strong first half of 2020. The Company’s growth plans include rapidly scaling up its global marketing campaign, the acquisition of additional gaming licenses to allow access to additional markets, and the acquisition of an odds provider to be able to offer an unparalleled B2B solution.

In an update to shareholders, the Company’s CEO Quentin Martin said: “The management team and board of directors have been working hard to prepare for the public listing. We have enjoyed positive discussions with the TSXV, completed the Business Plan required for filing, draft financials are complete, with final audit sign-off expected by end of July. Ultimately, we anticipate receiving TSXV listing approval by early October 2020.

“Our management team believes that the esports betting market will continue to grow and that the Company is one of the bookmakers that will be leading the way globally.

“In summary, Luckbox is pleased to have completed a $5.0M financing in connection with its go-public transaction by way of a business combination with Elephant Hill during a challenging period while successfully meeting its Q1 and Q2 roadmap targets which included adding additional languages, user acquisition partners and additional esports titles. We have made tremendous progress in 2020 and look forward to becoming only the second listed dedicated esports betting company on a public exchange.”

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Luckbox closes oversubscribed .0M CAD financing ahead of TSXV listing

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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EGT at ICE Barcelona 2025: Get ready to be stunned

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EGT is prepared to make a long-lasting impression on visitors at ICE 2025, which will be held in Barcelona for the first time. The Bulgarian manufacturer of gaming equipment will showcase its compelling selection of bestsellers and high-potential new developments at one of the largest stands at the exhibition 3F30.

Among the novelties that will arouse the greatest interest will be 2 brand-new slot cabinets – 32-32 St and 32-32 Up. These models will certainly not go unnoticed by the event guests.

On display will be the newest addition to the company’s jackpot family – the 4-level Asian-themed Zhao Cai Shuang Yu. It will reveal the astonishing world of its 2 games, Prosperity Strike and Rising Coins.

The attendees will also be able to see and test the latest multigames from the Supreme Selection slot series. The Mega Supreme Fruits, Supreme Red, and Supreme Buy Bonus Prize Selection will present a lot of new slot titles, offering a perfect mix of fascinating themes, attractive bonus features, and great entertainment.

EGT will show its newest ETG developments as well. Among them will be the 32 T terminal, which will make its debut during the show. It will complement the company’s rich portfolio of ETG products, which are the preferred choice in numerous gaming venues around the world.

Expanding its offering, EGT will present the Supreme Series of game mixes, currently including the Supreme Roulette Union and Supreme Green Union multigames. Focusing exclusively on roulette, the Supreme Roulette Union blends the excitement of classic roulette gameplay with innovative jackpot systems and versatile features. Supreme Green Union combines popular games from the company’s portfolio with roulette, Keno, Baccarat, and Blackjack, offering players a unique and engaging experience.

Numerous new AWP and VLT products, created specifically for different markets, will also be at the visitors’ disposal, as well as the casino management system Spider, which will show its latest modules.

EGT Digital will also present its vast array of iGaming solutions, including instant and casino games, jackpots, and its in-house developed “all-in-one” betting platform X-Nave.

Nadia Popova, Chief Revenue Officer and VP Sales & Marketing at EGT, commented: “ICE is a very important event for us, which gives us the opportunity to meet with industry professionals from all over the world. We will welcome our current and potential new customers and partners at our stand to present them all new products from our portfolio, divided into zones, covering all gaming verticals. I believe in the positive potential of changes. That is why I think that the relocation of the show to Barcelona will open new business horizons and bring many opportunities for building fruitful partnerships, for which we as a company are ready. “

 

The post EGT at ICE Barcelona 2025: Get ready to be stunned appeared first on European Gaming Industry News.

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Vibra Group Completes the Acquisition of TSA

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Go-to LatAm content and platform developer purchases longstanding Brazil-based tech development partner to accelerate growth plans

Vibra Group, the ‘go-to’ content and platform developer for the LatAm region, has acquired TSA, a Brazil-based technology company and one of its longest standing development partners.

The acquisition will further strengthen the award-winning company and accelerate its growth plans with 55 specialist platform development experts based in Northern Brazil.

TSA and Vibra Group have been long-term partners with TSA contributing significantly to Vibra’s technological growth. TSA, which operates under the ServiceNet brand name, also has existing contracts with several Brazilian lotteries including Loteria do Tocantins, Loteria do Maranhao, Loteria de Sergipe and Loteria da Paraíba.

The integration of TSA’s expert teams will immediately enhance Vibra’s platform development roadmap with additional resources dedicated to the Vibra Solutions business unit and will consolidate the Vibra Group’s structure across the LatAm region. The  LatAm based team is focused on game studios, Remote Gaming Server (RGS), and Electronic Gaming Machines (EGM). The Brazil-based team specialising in Player Account Management (PAM) and sportsbook solutions.

Vibra’s product strategy is to service every client need delivering a complete solution on three core areas: sportsbook and casino platform with multiple levels of customization and flexibility; content aggregation platform including proprietary titles and third party games from the main brands in the industry; and a state-of-the-art EGM platform allowing operators to distribute products and content through VLT / retail terminals. The group’s 3 business divisions: Vibra Gaming, Vibra Solutions and Vibra VLT / Retail.

Ramiro Atucha, CEO, Vibra Group, said:  “We’re delighted to close the acquisition of TSA and welcome the team to the Vibra family. TSA are one of our closest and most trusted partners with whom we’ve closely collaborated across several significant projects as well as ongoing development work, therefore joining forces makes perfect strategic sense.

“Our expansion and first M&A deal follows significant customer demand and growth across the LatAm region in the last 12 to 18 months so the timing is ideal. We’re very excited to have the TSA team join us as we continue our journey.”

Werter Luna, CEO, TSA, said: “We’re thrilled with the outcome of joining Ramiro and the Vibra team after having worked together for so long. The synergies were very clear and both companies know we are stronger together. The future is very bright and we’re ready to go on the ambitious plans we have to significantly grow our business.”

Founded five years ago by a management team of highly experienced industry experts with decades of land-based and online experience, Vibra has emerged as one of the most exciting and innovative content studios and software developers in the industry and rapidly grown to become the LatAm market’s ‘go-to’ partner for local and international operators.

 

The post Vibra Group Completes the Acquisition of TSA appeared first on European Gaming Industry News.

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GIANTX begins its 2025 LEC journey with fresh faces

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The global esports organization GIANTX is ready to kick off its journey in the League of Legends EMEA Championship (LEC), Europe’s premier esports competition. With a revamped roster and a clear goal of qualifying for the 2025 Worlds in China, the team begins its campaign this Saturday with a challenging schedule.

Led by renowned coach André Guilhoto, the roster features Lot (toplaner), Closer (jungler), Jackies (midlaner), Noah (AD carry), and Jun (support). Jackies, the 2024 Rookie of the Year, returns as the only player from last year’s roster. Lot, a standout in the LFL, joins as a promising top laner. Closer, a three-time Worlds participant and North American champion, brings leadership and experience. Meanwhile, Noah and Jun, from Fnatic, aim to establish themselves as one of the best bot lanes in the LEC.

GIANTX continues to rely on advanced data analytics and statistics in building its roster. “We believe in this roster. It’s a mix of hungry, talented players and experienced individuals. This team has the potential to be a strong contender in the LEC,” said David Alonso, GIANTX’s head of esports.

The journey begins on January 18 against SK Gaming (7:30 PM), followed by Rogue (Sunday, 6:45 PM) and Karmine Corp (Monday, 9:00 PM). In the second week, GIANTX will face Movistar KOI, Team Heretics, and G2 Esports, closing the regular phase against Fnatic, BDS, and Vitality. With a demanding schedule ahead, GIANTX is set to prove it is ready to compete at the highest level.

 

The post GIANTX begins its 2025 LEC journey with fresh faces appeared first on European Gaming Industry News.

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